Latest Headlines

Archive for April, 2015

Case against Aristo stands

The Paphos criminal court has ruled that there is a case against Theodoros Aristodemou, the head of Aristo Developers Limited, and three others relating to the illegal division land at Skali.

Fraudster Gary Robb brought to justice

A civil action in the UK against the infamous Gary Robb has resulted in some £1.6 million of his assets being frozen and £1.3 million returned to 57 of the victims of a property scam in north Cyprus.

EU says ‘No’ to Limni golf courses

Cyprus is in trouble with the European Commission and has been warned to cancel the building permits for the two golf courses in the Limni area or face the possible consequences.

NAMA Mia here we go again (maybe)

Having rejected the idea a couple of years ago, it seems the Cyprus government is now considering a NAMA style ‘Bad Bank’ in efforts to help resolve the non-performing loans issue.

Waiting for the fat lady to sing

The ECB has yet to decide whether the foreclosures legislation passed by MPs earlier this month is sufficient to enable a review of the Cyprus Economic Adjustment Programme to be concluded.

Valuation appeal deadline extended again

In the wake of around 22,000 individuals who filed objections to the Land Registry’s valuation of their property, the government has extended the deadline for receiving objections until the end of the year.

Cypriot banks to benefit from foreclosure law

In its Credit Outlook, which assesses credit implications of current events, Moody’s Investors Service considers the implementation of the foreclosure law is credit positive for Cypriot banks.

Leptos cuts deal with Bank of Cyprus

An agreement has been reached between Leptos Estates and the Bank of Cyprus to restructure a several million Euro loan according to Central Bank Governor Chrystalla Georghadji.

Construction sector collapse

The construction sector in Cyprus recorded the biggest drop in production year-on-year in the European Union member states according to a report published by Eurostat this morning.

Insolvency framework bills passed

After the usual shenanigans we’ve come to expect from opposition parties and endless debates, the five bills comprising the insolvency framework were passed by a plenary session of parliament earlier today.

Page 1 of 3123

Back to top